Tokio Marine Kiln promotes for new chief executive

International specialty insurer Tokio Marine Kiln (TMK) has appointed Matthew Shaw as its new chief executive to replace incumbent Brad Irick.

Shaw will assume the role on 1 April 2024 as Irick steps into the role of chairman for Tokio Marine Holdings’ international business. 

The promotion will see Shaw step up from his role as chief underwriting officer at TMK, which he has held at the insurer since 2020. 

As part of the movements, TMK’s current chief risk officer Vivek Syal will also step into the chief underwriting officer role.

Commenting on the promotion, Chris Williams, chairman of Tokio Marine Kiln Group, said: ”Irick, Shaw and the executive team have done a tremendous job of leading TMK and executing on a strategy that has consistently delivered outstanding results.

“I have every confidence that its success will continue to strengthen under Matthew’s leadership and with the support of the whole business.”

Pivotal times

Prior to joining TMK in 2020, Shaw was president of Chubb Global Markets for nearly 18 years, having joined in October 2002.

He begun his career as a Lloyd’s underwriter in the 1980s.

Commenting on his promotion, the new chief executive explained: ”I’m delighted to be taking up the role as chief executive during one of the most pivotal times for our industry.

”Our clients are facing a new generation of risk and volatility, with novel technology and approaches challenging the status quo and presenting exciting opportunities.

”Building on our proven strategy and the experience and expertise we’ve gained from 60 years in business, the next phase for TMK is about focusing on our future vision, creating opportunities and embracing new ways of solving old problems.”